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Bank of Russia sees signs of excesses on mortgage market — regulator’s chief

The Central Bank will monitor the quality of mortgage loans to prevent emergence of systemic risks and assume tight measures if necessary, Elvira Nabiullina noted

SOCHI, September 29. /TASS/. The Bank of Russia sees signs of excesses on the market of mortgage, which is growing with high rates, the regulator’s Governor Elvira Nabiullina told a forum, adding that the quality of loans is also concerning.

"We see signs of excesses on the mortgage [market], which grew with rates totaling 30% in the past 12 months. Those are high rates. And here we are, of course, concerned about the quality of loans and their influence on the residential property market," she said.

The Central Bank will monitor the quality of mortgage loans to prevent emergence of systemic risks and assume tight measures if necessary, Nabiullina added.

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Central Bank of Russia

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